Ripple’s chief legal officer, Stuart Alderoty, issued a sharp response to what he described as a misleading media narrative about cryptocurrency. He posted on social media platform X on Oct. 17 that The New York Times had again portrayed crypto as a hub for illegal activity, stating: “For the second time in as many weeks, the NY Times ran a ‘guest essay’ painting crypto as no more than a tool of crime and corruption. It’s a convenient narrative, but a lazy and inaccurate one.” His comments highlighted what many in the industry see as a persistent bias against digital assets in traditional media coverage.

Alderoty emphasized that crypto adoption is widespread and beneficial for everyday users. He stated:

Crypto is a technology used by more than 55 million Americans, and over three-quarters say it’s improved their lives; helping them send money, prove ownership, and build new forms of commerce on transparent, traceable ledgers. Corruption and crime don’t thrive in plain sight.

His remarks underscored that blockchain’s public and verifiable nature makes it an unlikely tool for concealing wrongdoing, countering claims that crypto primarily facilitates illicit finance.

The two New York Times guest essays Alderoty referenced each framed cryptocurrency as emblematic of corruption and criminality. The first, published Oct. 5 and titled “This Crazy Crypto Heist Is the Story of Our Time” by Philip Shishkin, recounted a bitcoin-related abduction and heist involving Georgian billionaire Bidzina Ivanishvili and his former aide, presenting the story as a cautionary tale of crypto’s risks. The second, published Oct. 17 and written by Jacob Silverman under the headline “Teapot Dome. Watergate. They’re Nothing Compared to This,” argued that Donald Trump’s crypto ventures—such as World Liberty Financial—represent “unprecedented corruption,” enabling influence peddling and money laundering through pseudonymous transactions. Both essays appeared in the Times Opinion section, and Alderoty’s post—published the same day as the second essay—served as a counter-narrative emphasizing crypto’s legitimate and transparent uses.

Alderoty concluded by stressing the importance of highlighting crypto’s constructive role in people’s lives:

The real story is about the everyday Americans using digital assets to save time, cut costs, and gain financial freedom. That story deserves to be told.

The Ripple legal chief pointed to the National Crypto Association’s efforts to amplify these perspectives, reflecting the industry’s broader campaign to reframe public understanding of blockchain’s economic and social impact.

• Why is Ripple’s legal chief criticizing The New York Times?
  He claims the outlet is spreading a misleading and biased narrative that paints crypto as inherently criminal, ignoring its benefits for millions of users.
• How many Americans are reportedly benefiting from crypto?
  Over 55 million Americans are using crypto, with more than 75% reporting that it has improved their lives through transparency and cost-saving technologies.
• What specific claims are being countered by Ripple’s legal officer?
  He is challenging opinion pieces that portray crypto as a tool for corruption and illicit finance, calling the narrative lazy and inaccurate.
• What role does blockchain transparency play in Alderoty’s argument?
  He argues that blockchain’s public and traceable nature makes it a poor tool for crime, reinforcing its legitimacy in financial ecosystems.

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